Grayscale Drops Cardano from Crypto Fund: ADA Loses Spot in GDLC Grayscale Investments, the crypto world's titan, made a significant move this Thursday. In its quarterly rebalancing, it
removed cardano (ADA) from its renowned Digital Large Cap Fund (GDLC).
The adjustment was executed by
selling ADA and redistributing the cash among the remaining assets based on their respective proportions. Consequently,
cardano bids farewell to GDLC.
The reshuffling took place on April 3, leaving the fund with a new composition:
bitcoin (BTC) takes the lion's share at 70.96%, followed by
ethereum (ETH) at 21.84%. Other players include
solana (SOL),
XRP, and
avalanche (AVAX).
Rewind to Q4 2023, and cardano held a more substantial stake of 1.62% in GDLC. But times change, and so do portfolios.
Grayscale's defi fund remains unaffected, with no additions or subtractions. However, the Smart Contract Platform Ex-Ethereum Fund waves goodbye to
cosmos (ATOM).
While GBTC morphed into a bitcoin ETF earlier this year, Grayscale is now eyeing an ether ETF. The asset manager is actively seeking approval from the SEC for this next move in the evolving crypto landscape.
